To save $1.7 billion, Telegram will release the TON blockchain code on September 1.

On August 30th, according to two people familiar with the matter, Coindesk revealed that Russian social media giant Telegram (Telegram) is expected to release the node running code of its blockchain project TON on September 1.

One of the insiders was affiliated with TON Labs (a technology company founded by Telegram token investors), and another investor involved in token sales confirmed the date.

It is reported that Telegram has always kept Ton highly confidential and refused to openly talk about the project. Ton Labs, which developed development tools for the telegraph, was not subject to this restriction and became the only sound company associated with the project. According to TON Labs, it maintains regular communication with the telegraph company's development team.

So far, TON's test network has only one operating node (run by the telegraph company itself), and after the node code is released, a wider range of users will be able to run their own TON nodes. According to the telegraph company's 2018 token sales agreement, Ton's main network is expected to be released on October 31.

If the main network is not online at the end of October, the telegraph company will refund huge financing funds.

Russian media Vedomosty reported on Wednesday that the content of this announcement will contain the code of the node itself and a description of the deployment node.

Vedomosty quoted an anonymous investor in the project as saying that developers interested in TON would be able to use their nodes to test the protocol's consensus and sharding mechanisms.

According to a leaked white paper, Ton will use the Byzantine Proof of Interest (PoS) consensus mechanism and the “infinite fragmentation” mechanism, which is said to have the ability to support 2^92 fragment chains (4.9*10^27). .

In the 2018 token sales campaign, the Telegraph Company raised at least $1.7 billion from investors in Russia, the United States and several other countries. If TON has not yet launched the main network by the end of October, the telegraph company will have to refund huge financing funds (will reduce the development-related costs).

In other words, the telegraph company is currently launching its own main network before the deadline.